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Show Hotel Escalante sale completed their own contractors on the new Ramada Inn facilities, they indicated. The building, which has been owned by the city since it was acquired from Union Pacific Railroad in 1958 for $110,000, was sold on a bid basis early this year and the option on that bid was completed com-pleted this week. Mayor Whet ten indicated that the total sale price of $125,000 was less than was expected but that the council had taken two things into consideration con-sideration when putting the property up for sale. First was the utilization of the property and second was the selling price. Since the bid was the highest high-est at the time bids opened I the council, he indicated, felt 'justified in negotiating the sale. As to the utilization of the funds the Mayor indicated that he comtemplated that the funds would be held in reserve for some type of capital improvement. im-provement. "That will be de- itcrmined by the council," he j further indicated. I Transactions were completed complet-ed Monday to officially transfer trans-fer title of Hotel El Escalante to three Cedar City businessmen business-men who intend to develop the property into a motel-restaurant complex. Checks vere turned over to Mayor Loren Whetten by Ler-in Ler-in Porter, Keith Averett and John Carl Dalton. The trio have obtained a franchise with Ramada Inn for the construction of a 50-60 unit motel with a restaurant with banquet facilities to accomodate ac-comodate up to 160, a dining room with a seating capacity of 60 and an additional counter coun-ter area for 60 people. The dining facilities will join the banquet area providing 60 seats for the total accomodation accomoda-tion of 160. Plans currently call for the demolition of the El Escalante Hotel within the next month with construction to begin immediately. "We hope to have the structure enclosed for work during the winter months and have the facilities open and ready for use by the spring of 1971," Porter indicated. indi-cated. Demolition will be under sub-contract to an organization organiza-tion in Salt Lake City and they expect to tear down th structure and have the property pro-perty ready for construction work within a two week period. per-iod. The three businessmen, al concerned with the construction construc-tion enterprises, will serve as ' m J:: Wm lis j a Mm ' -Ci ... : ... i ' ' I: If ' '" i ' ' ' ' ; . v-h I I"'. . 1 !' J ' W " " 1 . I l JA. TjdMMiii; .., t , . tH -n g?f p Hii - UV' : ' jX& il ' V' m : & fK' COMPLETES TRANSACTION. Mayor Loren Whetten, second from left, receives final payment for the acquisition of Hotel El Escalante by a trio of Cedar City businemen. They include Lerui Porter, left, Keith Averett and John Dalton. They plan to demolish the old landmark and convert property to a motel-restaurant complex. |